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Digby, I was posting about AFC being down to do the 2021 show many months ago but AFC have not even confirmed that they are actually going, let alone used it is PR opportunity. Let's hope that they have a plan for this soon as there would seem to be no point in having a head of communications and a PR company otherwise!
They first need to officially confirm that they are actually at the British Motor Show? I hope that they are mindful that 5 weeks without any real newsflow is a long time for AIM, especially when the sector is struggling, and I think that they should be looking for hooks to hang their PR on in the meantime like the motor show.
I agree, Haggis. Add in the new website that was found last week, not to mention all the new employees that need work to justify their presence at the new facility, and it looks like something is coming down the pipeline soon.
In the absence of any news from AFC for several weeks, which has been the longest gap in news for about 1 year, I was just looking back over the "Outlook" section of the interim results. Some targets should have already been reached, others are due in Q3 (i.e. by the end of September), some for Q4 (i.e. by the end of the year), some are ongoing and some are not time-specific. Whilst I remain a bit mystified as to why the company has seemingly chosen not to announce the opening of the new facility, the involvement in the British Motor Show or anything else in the past 5 weeks, logic suggests that each day without news is a day closer to significant news, given all the points below. Time will tell, as ever, although at least AB has hung his colours on the mast for the first time that I can recall so the clock is ticking for him too. I am surprised that there is not more buying support in the circumstances although you can take a horse to water but you can't make it drink:
Outlook
-- AFC Energy expects to announce multiple new system orders in the second half of this calendar year.
-- On track to complete design and system architecture of the integrated ABB / AFC Energy high power EV charger unit by the end of June.
-- On track to supply first fuel cell system to ABB site in Q3 for physical integration with high power EV charger.
-- Following COVID related delay, AFC Energy fuel cell system now on track for dispatch to ACCIONA in Q4 2021.
-- Multiple new product releases expected for second half of this calendar year.
-- Juelich fuel cell system for German micro grid on schedule for completion in Q4 2021.
-- Receipt of first commercial scale ammonia cracker for system integration next week that significantly advances competitive upstream fuelling strategy.
-- Strategic collaboration in maritime sector under discussion.
-- Assembly and commissioning facility at Dunsfold Park opens this week, incorporating office space for new engineering team.
-- Recruitment of new product engineers, manufacturing and field technicians, fuel cell and polymer scientists, and commercial staff expected to continue with on average of two new starters per week.
-- Commencement of scale up of manufacturing process for AlkaMem(R) anion exchange membrane ("AEM").
-- Preparation for delivery of full prototype high power dense AEM fuel cell by calendar year end.
We all know that it will just take one decent RNS to blow the trolls out of the water. After weeks of silence, it is perfectly possible that the new website is due to be released alongside a game changing RNS or, at the very least, alongside some PR about the new facility and the British Motor Show amongst other updates.
Whatever the case, anyone who tries to twist a new website into a negative clearly has an agenda that has nothing to do with being a shareholder.
The sector is self-imploding, yet again, with all the derampers/shorters doing their best to spread fear. Ultimately, there has been no bad news and the volumes/sells are nowhere near big enough to justify the large drops but I guess people are waiting for the next buying signal. Rinse and repeat.
It irritates me that AFC's ongoing communication strategy seems to encourage this cycle by putting out intermittent chunks of news and then leaving weeks of silence but the dynamic should change if/when they finally start to see the orders coming through. In the meantime, as others have said, some photos and a press release about the new facility would seem to be a no brainer.
Sadly, this board has more than its fair share of "shareholders" who either mysteriously change their sentiment regularly or who simply spend their time subtly deramping. Most are very easy to spot.
Back in the real world, it is heartening to see that someone has been soaking up all the sells in recent days, pushing up the bid along the way, and this suggests that it shouldn't take too much to push the SP up to new levels if news drops or if more buyers star to compete for the remaining shares at the current level.
It is just an attempt to manipulate the share price in the short-term, with them not being held to account for what they said the last time. They look for a moment when a share looks a bit weak (e.g. after the positive update last week that has been and gone) and then they try to stick the knife in before the next news comes.
Given the way that ITM/CWR/PLUG etc are all powering away, I am surprised that the market hasn't just shaken off this nonsense this time but I guess it goes to show that there are still people who listen to, or at least who take their cues from, these Tools. AFC hasn't looked this secure for years, indeed ever, and it is just a cynical attempt to scare people into selling. There are not getting my shares!
These Tools have been bashing AFC for years, whilst the share price has dramatically improved and the company has commercialised. If they had any moral fibre, they would apologise and jog on. Utter scum and why anyone would trust a word they say is beyond me.
For whatever reason, there has been regular selling again the last couple of days which is stopping the SP recovery. At least this week it is at 64p rather than the 60p we saw for saw for weeks but if the sector recovery continues then the seller should be cleared soon enough and there could easily be a sharp move up once the pressure is released. Time will tell as ever.
Whilst I would ideally have hoped to see confirmation of the opening of the new Dunsfold facility and the ABB prototype being completed before new options were granted, looking back 2 years ago to 24th June 2019 when 3,000,000 shares were put into a new scheme at 4.8p, you can see how far the company has come since then. I like the fact that the new options are at just over the current SP and can't be exercised for 3 years so there is no chance of a quick buck but plenty of opportunity to profit if the company delivers on its potential.
Meanwhile, I hope that AFC can keep the news flowing and enjoy the sector recovery that seems to be taking place.
The sector is getting very interesting and you can almost hear all those shorts closing, starting with ITM!
With the sector recovering and AFC making great progress, I think that it defies logic that the SP is only just knocking on the door of the placing price but the good news is that this means that it is not too late to get onboard before the contracts start rolling in. DYOR as ever.
With the new Dunsfold facility due to be completed this week, let's hope that we get some decent PR around this tomorrow or Monday to keep the momentum building. Then there is the ABB prototype that is due to be completed this month.
Meanwhile, ITM is flying with CWR not too far behind. Long may it continue this time!
Different roles. The official Extreme E press release confirms this.
"Extreme E is also pioneering hydrogen fuel cell technology which will enable its race
fleet to be charged using zero emission energy. This innovative solution from AFC
Energy uses water and sun to generate hydrogen power. Not only will this process
emit no greenhouse emissions, its only by-product will be water, which will be utilised
elsewhere on-site."
You have to see the funny side when ITM and CWR are outperforming AFC when they have had no news and AFC has had a tremendously encouraging update. Somehow, the seller(s) still have shares to offload at this 60/62p range but after weeks of this it surely can't go on much longer!
WH Ireland's new note this morning is more positive than ever, albeit with them still being conservative in their approach/valuation. You need to logon to access it but it is worth the effort if you want some reassurance. it really does feel like a lot more larger investors will be monitoring this now.
"We continue to see fair value at 159p and reiterate that we see material scope to increase our fair
value estimate in the near term to reflect AFC Energy’s entry into new potential markets, notably the
data centre market, with near-term growth potential also developing in respect of the maritime and
rail markets."
MORNING COMMENT
AFC Energy
Interim results: Unique capabilities, near-term momentum, hydrogen critical clean energy enabler
https://www.whirelandplc.com/research-portal#/portal/whireland
Ogggs, I suspect that you will be glad that you did soon enough. The seller can't have an endless supply of shares...
An excellent report with clear timelines and a lot of very strong hints about there being a steady stream of news to follow in the coming days/weeks/months. Similarly to the recent placing, this has derisked the investment by a huge amount even if, in itself, it doesn't lead to a rerating until the news starts to flow. Mind you, how this is still below the 64.5p placing price is beyond me, as it is clear that a lot has happened over the last couple of months, but I suspect that a lot more funds/institutions will have AFC on their radar after today's update and after the capital markets event that was followed by the Goldman Sachs presentation. Just need to clear that 60p seller first!
Good detective work, Halfshell. We may need to wait for official confirmation before this has any effect but my hope is that AFC are planning an official opening with a proper press release/update and, ideally, some talk about contracts or at least more explanation about egg AFC need this facility now rather than next year.
Mind you,it would be nice to see some buying pressure and blue in the meantime!